China Merchant Ports Holdings is looking at tying up with Sinopec or China Petroleum to have a bunkering facility at the Hambantota Port which is now managed by the company on a lease agreement.
In addition, infrastructure investments the tune of US$ 600 million would be pumped into the Southern port by CM Port.
These came to light at a special ‘South Asia’s Emerging Gateway City – Hambantota Port’ event organized by the Ceylon Chamber of Commerce, last Friday in Colombo. Hang Tian, Deputy General Manager, China Merchant Port Holdings Company Ltd, said that they will start projects at the Southern Harbour form November. ”We will also get local stakeholders involved in these projects as well as we feel Sri Lanka too should benefit.”
Mangala Yapa, Managing Director, Agency for Development Strategies, said that two Chinese companies had put forward a joint venture proposal for the proposed oil refinery, which is expected to produce 5 million tonnes per annum with an investment between US$2.5 billion and US$3 billion.
“The investment is large and we are discussing with the two companies on that basis,” he said, adding that the joint venture plan was chosen from three bids including one from a US company through a local partner.
Hambantota Port, overlooking the Indian Ocean, is expected to play a key role in China’s ‘One Belt, One Road’ initiative, otherwise known as the New Silk Road, which will link ports and roads between China and Europe. (SS)
0 comments: